UK Consumer Confidence increases four points in January to -9

GfK’s long-running Consumer Confidence Index increased by four points in January 2018. All five measures increased in January.

Joe Staton, Head of Market Dynamics at GfK, says:

“Having survived Christmas, New Year, the January Sales and Blue Monday, bullish Brits report a more upbeat view of their financial prospects for 2018 this month. From expectations for their personal financial situation to the outlook for the UK economy and major purchase index, we are reporting a rebound in levels of optimism across the board after two years of the Overall Index Score sitting at zero or in negative territory.

However, standing at -9, the Index is still lower than this time last year (-5), and still in negative territory, and in the absence of good news about rising wages and declining inflationary pressures, this off-trend number could be a temporary blip rather than a strong sign of recovery. With 2018 still in it’s infancy, and with a great deal of uncertainty in store, there could be more turbulence in the consumer mood this year and next. Watch this space.”

UK Consumer Confidence Measures – January 2018

The Overall Index Score in January 2018 is -9. All five measures used to calculate the Index saw increases in January 2018, with the largest increase occurring in the Major Purchase Index, which is up five points.

Personal Financial Situation

The index measuring changes in personal finances during the last 12 months has increased two points this month to -1; this is four points lower than this time last year.The forecast for personal finances over the next 12 months has increased four points to +6 this month; this is one point lower than January 2017.

General Economic Situation

The measure for the General Economic Situation of the country during the last 12 months has increased two points to -29; this is five points lower than January 2017. Expectations for the General Economic Situation over the next 12 months have increased four points to -24; this is one point lower than this time last year.

Major Purchase Index

The Major Purchase Index has increased five points this month to +1; this is nine points lower than January 2017.

Savings Index

The Savings Index has increased six points to +10 in January; this is 12 points higher than January 2017.

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